capitalism
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- utopian5
Elon Musk has repeatedly bragged that he'll pay more in federal taxes for 2021 than anyone has ever paid — about $11 billion. But Tesla apparently won't pay a cent.
Tesla may not plan to pay federal taxes any time in the foreseeable future -- even though the company just reported by far its most profitable year ever. In 2021, Tesla recorded net income of $5.5 billion, and adjusted income of $7.6 billion.
But buried in a footnote of its recent annual financial filing with the Securities and Exchange Commission, Tesla reports that its US operations lost $130 million last year on a pre-tax basis. It claims that all of its pre-tax profits — more than $6 billion worth — came from overseas operations, even though 45% of its revenue came from US sales.
Although Tesla indicates its foreign tax bill came to $839 million, its state tax bill was only $9 million. And its federal tax bill was zero.
- the green new deal by AOC = he'd be getting a nice corrupt gov't kickback for going green.hotroddy
- You're either for subsidizing green tech or you think Tesla should pay taxes.zarkonite
- As usual...he doesn't have a fucking clue.utopian
- Always taking out both side of his ass.utopian
- "talking" or "taint"utopian
- Shouldn’t companies like Tesla be helped until all cars are electric?Chimp
- So which is utopia? Are you in favor of subsiding green tech? If so, once again you contradicted yourself.. . enjoy that amazon prime account. :)hotroddy
- mort_5
- Thanks, Elon.palimpsest
- Not all debt, unfortunately.formed
- sted8
- Rotterdam bridge is reportedly being dismantled so Jeff Bezos' yacht can pass throughsted
- Excellent, more work and income for the region as well as the existing shipyard that's been constructing the yacht.Morning_star
- If he drowned in a boating accident there'd be more income for Rotterdam's funeral industry and party popper shops. Excellent.MrT
- what a helmet.utopian
- Thats my city!milfhunter
- That's trickle down for you folks!palimpsest
- A yacht this big for this dwarf??
Is Dicaprio invited to do a "trip"??OBBTKN - It's a 'cosmetic' bridge that has a mid-section specifically designed to be removed for ships built in the local shipyard to pass through for delivery.Nairn
- “I find the turmoil quite peculiar. No decision has yet been taken, not even an application for a permit,” Dutch newspaper Algemeen Dagblad quoted mayor Ahmed Asted
- More than 1,000 Dutch residents plan to throw rotten eggs at Jeff Bezos' superyacht if it ends up forcing a historic bridge be dismantled for it to pass throughutopian
- PhanLo5
- Anything under 90% cocoa is just chocolate flavoured sugar crap.shapesalad
- 99.9% of anything is complete shitPhanLo
- I think we're yet to find anything that you're not an elitist cock about, shapesaladBuddhaHat
- people actually care about these characters? seems like free exposure for M&M. ¯\_(ツ)_/¯pango
- Fuck! Nestle just bought one of my favorite clients.toemaas
- GuyFawkes1
awe, so sad, I feel for them, I really do.
- nb2
My friend is works in finance but not for banks, just for companies. His job is sort of like accounting except he looks forward instead of backward.
He got a new boss last year who gave him the runaround for a year and wouldn’t promote him. His job is easy for him but there’s nowhere to grow.
He’s 36, no kids. So he should quit, right? After all, he should need to be moving up in the world at his age and situation.
So he starts looking for a new job. Finds one. Doesn’t quit his old job, he just does the bare minimum to not get fired. New job is his focus.
Now he collects two large paychecks and works about 8 hrs per day.
The American Dream, realized!
- PhanLo5
I used to have this problem, but I started earning $4k a day selling Cryptonite and NFT's follow me on LinkdIn for 10 easy steps.
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- Is that the price of the house or the annual salary of a senior software engineernb
- 10 steps are too many. I like when there is 3-5 stepsdrgs
- Herman Cain approved.PhanLo
- This works, I have 7 Lambos to prove itGuyFawkes
- I like the 3-2-1 method.. Free to one = give one(me) everything free.shapesalad
- My mortgage is nearly paid off, but fuck knows how young people could buy a house these days.PhanLo
- Murican Dreamutopian
- My mortgage is less than half what a comparable apartment around here would go for. It's crazy the money folks are throwing away.formed
- more like 1.4mill....inteliboy
- Of course they could Phan all they have to do is sell some Nft’s like that 12 year old girl did and they can buy all the houses they want! Lol_niko
- Salarrue3
- This is like calling drinking fountains communism.palimpsest
- utopian6
- They’re a proud people. They don’t like to talk about taking handouts. They like the handouts, they just don’t like talking about itnb
- but they do love talking about them, how horrible they are, how lazy everyone that takes them is, on and on...always knowing they'll still get them.formed
- What would happen to the states that most want to form a new Confederate States of America if their dream came true?CyBrainX
- At the same time these clowns try to use Mexicans as a scapegoat to avoid admitting what a drag they are on the economy.monospaced
- And conservative fools, like hotroddy and his clique of bigoted fucks and brainwashed idiocy not only believe it, but spew it like diarrhea they line up to eatmonospaced
- oh mono your righteous stupidity is starting to get old. Kentucky gets agricultural subsidies for costs of perishable commodities they can't control.hotroddy
- And they'll get more subsidies because the loonie left can't control inflation. But is the population of .01% of the US population is a threat to youhotroddy
- shitting on .01 percent of the population because they are white is real bigotry.hotroddy
- Where are you with the population the size of Angola who receive $7 for zero dollars they produce?hotroddy
- utopian1
The world's 10 richest men have made so much money during the pandemic that a one-time 99% tax on their gains could pay for all COVID-19 vaccine production and more.
"Billionaires have had a terrific pandemic. Central banks pumped trillions of dollars into financial markets to save the economy, yet much of that has ended up lining the pockets of billionaires riding a stock market boom," Oxfam International's executive director, Gabriela Bucher, said in a press release announcing the organisation's new report, "Inequality Kills."
Highlighting the vast wealth disparity that emerged during the Covid-19 pandemic, Oxfam noted that the wealth of the world's ten richest men more than doubled to $1.5 trillion from $700 billion between March 2020 and November 2021. That's at a rate of $15,000 a second or $1.3 billion a day, the charity said.
- So what? It's just outrage click-bait. No solutions, no understanding of economics or wealth or taxation for that matter.Morning_star
- There’s something to it. If you make billions a year at some point the idea of coughing it up for the greater good makes sense.monospaced
- Especially when they’re making it while everyone else is cashing $500 government checks and losing jobs and family members.monospaced
- Companies and individuals are different. Bezos isn't Amazon, Musk isn't The Boring Company, SpaceX or Tesla etc. Making these people cultural enemies is...Morning_star
- ...retarded. Calling for economic equity is also fucking stupid. It shows a monumental lack of understanding in the quest for 'clicks'. It wouldn't be so bad..Morning_star
- ...if this came from an ignorant blue haired culture warrior but it comes from the Busines Insider. Truth and honesty should...Morning_star
- ...prevail, but they don't. The cost of that will be far greater than rinsing billionaires for a few more bucks.Morning_star
- Sure, it's click-bait, but at the same time represents a real problem. The gov't needs to create a balanced system. As it is now, it's a pathetic joke.formed
- Further, they aren't talking about Tesla, etc., they are talking about the net worth of the wealthiest. THAT is the point.formed
- akiersky1
Old thread, still good
https://twitter.com/AlexandraEri…- 280 characters worth of bullshit and over simplification. Listening to an author for global economic guidance is like listening to Rogan for vaccination advice.Morning_star
- I just picked one tweet out of the thread that summarized her point. But sure, keep bailing out the corporations... it's worked so well for the past 40 yearsakiersky
- The whole thread is the same trite, unrealistic, virtue signalling hot air.
And the government bailing out corporations is more communist than capitalist.Morning_star - It's never capitalism's fault. It's the best system. Nothing better can be achieved until the end of time. We're at peak society.PhanLo
- The Capitalist system, like Communism is tainted irrevocably by the presence of humans. In books of fiction and dreams are a utopian ideal, and that...Morning_star
- ...is the only place.Morning_star
- lol @ “every time”
Name one time? What am I missing?monospaced
- utopian2
Sixteen major U.S. universities and Ivy League schools have been accused of violating antitrust laws by collaborating to determine student financial aid awards, according to a lawsuit filed Sunday.
The case in Illinois federal court is on behalf of five former students who allege that the universities practiced price-fixing and unfairly limited aid by using a shared strategy to determine financial needs, The Wall Street Journal reported.
The named schools are Yale University, Georgetown University, Northwestern University, Brown University, the California Institute of Technology, the University of Chicago, Columbia University, Cornell University, Dartmouth College, Duke University, Emory University, the Massachusetts Institute of Technology, the University of Notre Dame, the University of Pennsylvania, Rice University and Vanderbilt University.
- grafician-1
"Warren Buffett makes over $120 billion on Apple's rise to $3 trillion, among his best bets ever"
"The 5% Apple stake Berkshire Hathaway acquired in 2018 for $36 billion is now worth $160 billion as the tech giant hit the $3 trillion milestone.
Warren Buffett's conglomerate has also enjoyed regular dividends from Apple, averaging about $775 million annually.
Berkshire's Apple stake now makes up more than 40% of its equity portfolio."
- utopian4
America’s nearly 750 billionaires collectively got $1 trillion richer in 2021, a tax-free 25% gain, according to calculations by Americans for Tax Fairness (ATF) based on Forbes data. Their wealth rose from $4.1 trillion to $5.1 trillion over the 12 months ended on Dec. 31. That wealth rise could fund half of the Democrats’ proposed 10-year, roughly $2 trillion Build Back Better plan of social and environmental investments.
Go here for the full data set and see the top 15 billionaires table below. The number of U.S. billionaires rose from 659 to 736 during the year.
Under current law, none of that gain will ever be taxed unless the underlying assets are sold—something the very rich generally don’t need to do to lead lives of luxury. But if the Billionaires Income Tax (BIT) proposed by Sen. Ron Wyden had been law last year, billionaires would owe up to $240 billion on their 2021 wealth gains, depending on how much of that wealth gain was derived from tradable assets such as stock.
- Right, Build Back Better didn't pass because of insufficient funds.palimpsest
- You seem to be confusing income with growth.Morning_star
- Thanks, Elon.palimpsest
- every single one started as dishwashersandpipe
- Shapeshifters.palimpsest
- That's how investments work. They aren't taxed until they are accessed. They just sit there, so it's all paper money now.formed
- That also contradicts itself. It's click-bait, sensationalized bs. Either state what it is and discuss or don't state anything at all.formed
- (not pointing fingers at you U, but whoever wrote that wrote it to stir emotions, not present reality)formed
